Brown Brothers Harriman & Co. Buys New Shares in EQT Co. (NYSE:EQT)

Brown Brothers Harriman & Co. purchased a new position in shares of EQT Co. (NYSE:EQT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 978 shares of the oil and gas producer’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Modera Wealth Management LLC bought a new stake in EQT in the 3rd quarter worth approximately $562,494,000. Canoe Financial LP purchased a new stake in shares of EQT in the 3rd quarter valued at $89,907,000. Merewether Investment Management LP bought a new position in shares of EQT during the 2nd quarter valued at $69,452,000. Charles Schwab Investment Management Inc. raised its position in EQT by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares during the period. Finally, Boston Partners lifted its stake in EQT by 33.7% in the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after purchasing an additional 966,475 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent research reports. Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Mizuho raised their price target on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group boosted their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial raised their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

EQT Stock Performance

Shares of EQT stock opened at $45.28 on Friday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The stock has a market cap of $27.02 billion, a PE ratio of 53.91 and a beta of 1.06. The company’s fifty day moving average price is $39.14 and its 200-day moving average price is $37.16. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that EQT Co. will post 1.38 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.39%. EQT’s payout ratio is presently 75.00%.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.